iQIYI, Inc. (NASDAQ:IQ) Given Consensus Rating of “Reduce” by Brokerages

Shares of iQIYI, Inc. (NASDAQ:IQ) have been assigned an average recommendation of “Reduce” from the six research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $3.15.

A number of analysts recently issued reports on the stock. OTR Global reissued a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. Benchmark reiterated a “hold” rating on shares of iQIYI in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research note on Friday, November 22nd.

iQIYI Stock Up 1.1 %

NASDAQ:IQ opened at $1.85 on Wednesday. The firm has a market capitalization of $1.77 billion, a P/E ratio of 9.25, a PEG ratio of 0.58 and a beta of 0.02. The company’s fifty day moving average price is $2.13 and its 200-day moving average price is $2.59. iQIYI has a 1-year low of $1.82 and a 1-year high of $5.80. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.45 and a quick ratio of 0.45.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. lifted its stake in iQIYI by 36.2% during the second quarter. American Century Companies Inc. now owns 946,984 shares of the company’s stock worth $3,475,000 after purchasing an additional 251,813 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of iQIYI by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,846,420 shares of the company’s stock valued at $21,443,000 after buying an additional 694,349 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of iQIYI in the 2nd quarter valued at $46,000. Seven Eight Capital LP acquired a new position in iQIYI during the 2nd quarter worth about $42,000. Finally, Public Employees Retirement Association of Colorado purchased a new position in iQIYI during the 2nd quarter valued at about $135,000. Hedge funds and other institutional investors own 52.69% of the company’s stock.

About iQIYI

iQIYI, Inc, together with its subsidiaries, provides online entertainment video services in the People's Republic of China. It offers various products and services, including online video, online games, online literature, animations, and other products. The company operates a platform that provides a collection of internet video content, such as professionally produced content licensed from professional content providers and self-produced content.